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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- MS Steel International - UAE
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
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